Creating money won't hurt II

Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:

You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.

BrowneIssue replied

10 March 2009, 07:59
Originally posted by bobhope View Post

On another note: holidays in Bognor anyone?

I did, at Christmas. But we can't think of anywhere even more downmarket to go to for next Xmas.
Leave a comment:
bobhope replied

10 March 2009, 07:54
Originally posted by Francko View Post

I honestly hope that the world was as simple as CyberMan brain.

I think that bit of the code logic of the bot is mangled: QE / low interest rates are a GB policy, yet he's rabidly pro-Tory.

On another note: holidays in Bognor anyone?
Leave a comment:
Francko replied

10 March 2009, 07:30
Originally posted by Cyberman View Post

QE and the interest rate drop are seen as positive events because they should hopefully help to hasten economic recovery. Thus the pound will not crash.

I honestly hope that the world was as simple as CyberMan brain.
Leave a comment:
OwlHoot replied

10 March 2009, 02:38
Originally posted by rootsnall View Post

Reading the weekend's press and today's FT in particular we are all screwed. The honest pundits are now saying they haven't a clue how this is going to pan out, other than it won't be pretty.

It didn't stop the housing experts spotting green shoots of recovery at the same time as the world economy is falling into a massive hole

I think those "green shoots" are marsh gas spontaneously combusting. You get those "will o' the whisps" when methane builds up in festering tulip, which is what we're in.
Leave a comment:
Gonzo replied

10 March 2009, 00:18
Originally posted by PM-Junkie View Post

...yes, because the markets completely missed the fact that QE was announced on Thursday.

Er, it can hardly have come as a surprise to anyone on Thursday. Even we were talking about it back in December linky (SFW) so I don't think there would be any reaction now.

We just wait and see how it pans out. I for one am not very hopeful.
Leave a comment:
Cyberman replied

9 March 2009, 22:36
QE and the interest rate drop are seen as positive events because they should hopefully help to hasten economic recovery. Thus the pound will not crash.
Leave a comment:
d000hg replied

9 March 2009, 17:31
Originally posted by Bagpuss View Post

The pound is down, but not as much as when interest rates were higher ans QE hadn't been done. So all in all, the markets are happy with QE

Yeah, we've had an interest rate drop AND QE in the same week and it's not as bad as it was 6 weeks ago.

A "6-week low" is hardly much to write home about.
Leave a comment:
Bagpuss replied

9 March 2009, 16:57
The pound is down, but not as much as when interest rates were higher ans QE hadn't been done. So all in all, the markets are happy with QE
Leave a comment:
rootsnall replied

9 March 2009, 16:19
Originally posted by PM-Junkie View Post

...The fall in sterling today is almost entirely down to the fact that the banks are screwed. Very little to do with QE.

Reading the weekend's press and today's FT in particular we are all screwed. The honest pundits are now saying they haven't a clue how this is going to pan out, other than it won't be pretty.

It didn't stop the housing experts spotting green shoots of recovery at the same time as the world economy is falling into a massive hole
Leave a comment:
swamp replied

9 March 2009, 16:05
Originally posted by DimPrawn View Post

Are you suggesting the BBC are full of tulip?

No. The BBC are full of money.
Leave a comment:
PM-Junkie replied

9 March 2009, 16:04
The BBC having an agenda?

I don't know how I could have thought such a thing. I do most humbly apologise. I shall retire to the naughty step as penance....
Leave a comment:
DimPrawn replied

9 March 2009, 16:02
Are you suggesting the BBC are full of tulip?
Leave a comment:
PM-Junkie replied

9 March 2009, 16:00
...yes, because the markets completely missed the fact that QE was announced on Thursday. I guess everyone who trades the money markets was asleep on Thursday and Friday, and only noticed today, and that's why the pound has dropped.

I spy someone with an agenda.

The fall in sterling today is almost entirely down to the fact that the banks are screwed. Very little to do with QE.
Leave a comment:
DimPrawn started a topic Creating money won't hurt II

9 March 2009, 15:56
Creating money won't hurt II

Unless your wealth or earnings are in £.

http://news.bbc.co.uk/1/hi/business/7932799.stm

The pound has sunk back below $1.40 to a six-week low, as confidence in the UK economy took yet another knock following falls in bank shares.

The pound was down almost three cents at $1.3778. Sterling touched its lowest levels in 24 years in mid-January, nearing $1.35.

UK financial shares fell in Monday trading after the government increased its stake in Lloyds Banking Group.

Against the euro, the pound was down one-and-a-half cents at 1.098 euros.

"What's going on in UK shares at the moment is putting pressure on sterling," said Geraldine Concagh at AIB Group Treasury.

She added that the Bank of England's programme of quantitative easing will put further downward pressure on sterling.
Tags: None